High volume ledgers


This section is written mainly for businesses with large debtors ledgers and which supply goods under a retention of title or Romalpa clause, or who sell goods on consignment.

For registration purposes, a large ledger has more than 500 debtors. We have managed the registration of up to 60,000 debtor accounts spread across 5 different systems for one client! Another of our clients needed to have up to 18,000 collateral items specified for a single debtor. This demands the sensible use of technology to manage what would otherwise be an impossible burden.

Before we swing in to the solutions we offer, it is worth a brief recap on the benefits of registration – for a full explanation please read <benefits of registration>. If you are already familiar with the benefits <skip to solutions>

  1. Goods supplied under a retention of title clause, or sold on consignment.As a secured creditor you will have a “Purchased Money Security Interest” or PMSI in the goods, which under certain circumstances will have a “super priority” over all other creditors.
  1. PPSA gives you powerful rights of entry in to debtors premises to seize goods.
  1. Even if the goods have been incorporated in to new goods during the manufacturing process, you can acquire rights in the new goods.
  1. If the goods have been on sold in the ordinary course of business, you lose title, but in certain circumstances can still have a PMSI in the debt created by the sale.
These are all direct benefits that derive from PPSA. There are however indirect benefits of registration:
  1. You may have a valid defence against a voidable preference claim in a liquidation, although this has yet to be tested by the Courts.
  1. You may find your old debtors lining up to pay you when they try to sell their businesses and the solicitor acting for the purchaser searches PPSR. The sale will not go through until you have been paid and have discharged your security!
With a list of benefits like this, it is surprising that the levels of registration have been so low. From conversations with clients we think that the delay has been caused by (a) a strong economy with a low level of bad debts and (b) the perceived difficulty and expense of the initial registration exercise.

The economy is now slowing and from conversations with credit controllers around the country we get the impression that bad debts will start to increase. We have developed tools to reduce the difficulty and expense of initial registration.


The services that we provide to assist you with registration include:

  1. We will meet with you to review the nature of your business, volume of debtors and the risks you seek to protect through registration. By the end of that meeting you will have a clear picture of what is involved and if you wish to proceed further, we will produce a scoping document and proposal.
  1. We will produce a project plan which clearly identifies the work to be done and assigns responsibility between your business and EDX. We are completely customer focused and will do as little or as much work as you decide. Many of our customers have managed the project themselves and simply provided us with the data to register debtors. Others have engaged EDX to manage the project in its entirety.
  1. Subject to your business having a reasonable volume of new registrations or if you anticipate active registry maintenance, we will provide you with a licensed copy of our Securities Information Database (SID). This will enable you to maintain your registrations through our electronic link in to PPSR. It has all the “touch and feel” of a direct connection at a fraction of the cost of bespoke development.
  1. If you have a high initial volume of registrations and a low ongoing volume of new accounts then it may not be worth investing in SID. In these circumstances, we complete the initial registration exercise using spreadsheets and upload through our electronic link to PPSR. We provide a complete spreadsheet of registrations back to you, holding all the necessary information for you to maintain your registration on an ongoing basis.
  1. We will review and amend your business processes if required. There are certain time bound requirements which must be observed if you are to retain the “super priority” of your PMSI.
  1. We will provide training if required – not just on registration procedures, but to give your credit staff an overall understanding of PPSA.
  1. We will provide ongoing support
  1. Where clients have used EDX to register their interests we will provide advice on enforcement. Kim Powell is a former receiver and liquidator and has also headed up the credit recovery function for a major New Zealand bank. The “golden rule” still applies – swift action will always produce the best result.

In summary we promise to design a solution that best meets your business needs. You will be dealing with senior people in EDX who have been working with PPSA since the outset. Put bluntly – we know our stuff and pride ourselves on delivery!

Please put us to the test <enquire now>